What's Going On With RH Stock On Friday?
Portfolio Pulse from Nabaparna Bhattacharya
RH (NYSE:RH) shares are trading lower in the premarket session after reporting first-quarter financial results. The company flagged a 'constantly changing outlook' regarding monetary policy, which is expected to impact the housing market through 2024 and possibly into 2025. RH reported a loss of 40 cents per share, missing analyst estimates, but quarterly sales of $726.96 million slightly beat expectations. The company plans to open a new showroom and sees significant growth potential for its Waterworks brand.
June 14, 2024 | 12:34 pm
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RH shares are down 12.20% in premarket trading after reporting a Q1 loss of 40 cents per share, missing analyst estimates. Sales slightly beat expectations, but the company flagged a challenging outlook due to monetary policy impacts on the housing market.
The significant premarket drop of 12.20% indicates a strong negative reaction from investors to the Q1 earnings report. The missed earnings per share and the company's cautious outlook on the housing market due to monetary policy are key factors driving the stock down.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100